Mish: Austrian Translation Of Bernanke's Speech?

Chairman of the Fed, Ben Bernanke, was speaking in London yesterday. The official speech available here. The Bloomberg coverage is here.

Mike Shedlock/Mish has translated the speech in "Austrian", click for full article here.

This interpretation by Mish tells the story:

The Fed chairman said the favorable treatment that financial institutions are receiving from the government is “unavoidable” because the economy needs credit to grow. Still, aid should be accompanied by stronger supervision and regulation, he said.

My Translation: "Loose Credit got us into this mess, so loose credit will get us out of it. What's not to understand about that?"

Read the full article ...